Swedbank AB Buys 94,856 Shares of Occidental Petroleum Co. (NYSE:OXY)

Swedbank AB lifted its position in Occidental Petroleum Co. (NYSE:OXY - Free Report) by 50.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 282,054 shares of the oil and gas producer's stock after acquiring an additional 94,856 shares during the period. Swedbank AB's holdings in Occidental Petroleum were worth $14,537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in OXY. Investment Research & Advisory Group Inc. grew its holdings in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 167 shares during the period. New Covenant Trust Company N.A. bought a new position in Occidental Petroleum during the 1st quarter valued at approximately $44,000. LRI Investments LLC purchased a new position in Occidental Petroleum during the first quarter valued at $44,000. Riverview Trust Co bought a new stake in Occidental Petroleum in the first quarter worth $63,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Occidental Petroleum in the third quarter worth $87,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company's stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company's stock.

Occidental Petroleum Stock Performance

Shares of OXY stock traded down $0.07 during mid-day trading on Friday, reaching $51.65. 9,424,307 shares of the company's stock traded hands, compared to its average volume of 9,151,723. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The firm has a market capitalization of $45.79 billion, a PE ratio of 14.09 and a beta of 1.57. Occidental Petroleum Co. has a 12 month low of $49.75 and a 12 month high of $71.18. The firm has a 50 day moving average price of $54.21 and a two-hundred day moving average price of $59.96.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. Occidental Petroleum's revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts forecast that Occidental Petroleum Co. will post 3.49 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, September 10th. Occidental Petroleum's dividend payout ratio is currently 24.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. BMO Capital Markets reduced their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating for the company in a research report on Friday, October 4th. Susquehanna lowered their price objective on Occidental Petroleum from $78.00 to $77.00 and set a "positive" rating on the stock in a research report on Friday. Evercore ISI reduced their target price on Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a report on Monday, September 30th. Finally, Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set a "hold" rating on the stock in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and an average price target of $65.72.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.